The Origin of the Capitalist Firm An Entrepreneurial/Contractual The
The book addresses the entrepreneurial origin of the capitalist firm and its asymmetric contractual relationships between capitalists, workers, managers and entrepreneurs, and explains the origin of the firm by focusing on entrepreneurship. A hidden actio
- PDF / 3,738,857 Bytes
- 208 Pages / 453.543 x 683.15 pts Page_size
- 22 Downloads / 180 Views
The Origin of the Capitalist Firm An Entrepreneurial/Contractual Theory of the Firm
The Origin of the Capitalist Firm
Weiying Zhang
The Origin of the Capitalist Firm An Entrepreneurial/Contractual Theory of the Firm
123
Weiying Zhang The National School of Development Peking University Beijing China
ISBN 978-981-10-0220-5 DOI 10.1007/978-981-10-0221-2
ISBN 978-981-10-0221-2
(eBook)
Jointly published with Truth and Wisdom Press Library of Congress Control Number: 2017935841 © Truth and Wisdom Press and Springer Science+Business Media Singapore 2018 This work is subject to copyright. All rights are reserved by the Publishers, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publishers, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publishers nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publishers remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Printed on acid-free paper This Springer imprint is published by Springer Nature The registered company is Springer Nature Singapore Pte Ltd. The registered company address is: 152 Beach Road, #21-01/04 Gateway East, Singapore 189721, Singapore
Preface to the English Edition
The subtitle of this book—An Entrepreneurial/Contractual Theory of the Firm— sounds a bit awkward at first glance, but it does in fact set out the theme of this book in a very precise way. The theory of the firm in the Neoclassical setting is essentially a theory of production decision, namely the study of how to allocate input factors and choose production level in order to maximize profit by a given production unit (e.g. a firm). It emphasizes the determination of production decision by the price of input factor, production technology and the demand function. This well-established theory is meaningful in terms of understanding market equilibrium and the efficiency of resource allocation, but it overlooks the complex organizational relations and incentive problems within the firm, and therefore it is also called ‘black box theory’. The earliest critique of the Neoclassical theory of the firm came from Ronald Coase, who argued in his classic the Nature of the Firm (1937) that the Neoclassica
Data Loading...
